Annual Lease Rental Sample Clauses

Annual Lease Rental. In consideration of the lease of the Site and the rights appurtenant thereto in favor of the Concessionaire, the Concessionaire shall, during the Concession Period, in terms of this Agreement and the Land Lease Agreement, make payments to ADCL with respect to the Annual Lease Rentals. The Annual Lease Rental for the first Year of Concession is Rs _. The amount of Annual Lease Rental shall be escalated at the rate of five percent (5%) every Year during the Concession Period. The Annual Lease Rentals shall be paid in advance in equated quarterly installments, by the 10th day of the first Month of every quarter during each Accounting Year of the Concession Period in accordance with Lease Rental payment schedule attached as Schedule 1 to the Land Lease Agreement. An amount of Rs. (Rupees only) equivalent to the first Six Months Annual Lease Rental (computed on the basis of the Annual Lease Rental payable in the first Year of Concession) of the Concession Period, has been deposited by the Preferred Bidder/ Concessionaire, with the Authority within 15 Days of issue of LoA and prior to the Execution Date, as an interest free security deposit. Further, towards the security for the due payment of the Annual Lease Rentals during the Concession Period, The payment of the subsequent Lease Rentals shall be made on quarterly basis to be paid in advance by the 10th day of the first Month of that quarter for the entire Concession Period. The Concessionaire shall ensure that it maintains, at all times during the Concession Period, a deposit with the Authority of an amount equal to Six (6) Months Advance Lease Rental Deposit calculated on the basis of applicable Annual Lease Rental for that particular Year (“Security Deposit”). The Security Deposit shall be returned to the Concessionaire, without any interest thereon, within three (3) Months from the Transfer Date, after adjusting dues of the Concessionaire if any to the Authority or towards any payment obligations pertaining to the Project, like power, water, maintenance etc. In the event of delay up to 15 Days from the due date (10th day of the first Month of the quarter) in the payment of the Lease Rentals, the Concessionaire shall be liable to pay to the Authority, interest on the due amount at the rate of 18% (Eighteen percent) per annum, for the period from the due date until the date of actual payment. In the event, the payments are delayed beyond a period of 15 Days from the due date; it shall be construed as a Conc...
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Annual Lease Rental. 1.38.1 The annual consideration in respect of the Project Assets over and above the Upfront Payment (the “Annual Lease Rental”) is Rs /- (Rupees DOT acknowledges the payment of Rs. /- (Rupees only) by the Lessee, towards the Annual Rental for the first year on , 2017 through DD bearing No dated of bank. This payment will be in the form of a demand draft in favour of The Director Tourism, Department of Tourism & Culture (Tourism), drawn on a scheduled bank that is not a Gramin Bank and payable at Bhubaneswar. 1.38.2 For the first year, the Annual Lease Rental shall be payable on the date of signing of the Agreement. 1.38.3 The Annual Lease Rental for each subsequent year shall be payable in advance on the anniversary of the Appointed Date. In case the Lessee failed to pay the annual rent within 15 days from the date of anniversary of appointed date, interest @ 18% shall be charged per annum for period of delay apart from the right to terminate the agreement under Clause 1.51 & 1.56 of the agreement. 1.38.4 The Annual Lease Rental shall be escalated every 2 (two) years by the Wholesale Price Index (WPI) figures declared by the Ministry of Commerce, Government of India. The reference WPI value used would be the WPI value for the previous financial year. For example, escalation would be calculated in the following way: (figures used for WPI value, Annual Payment for first year are only for illustrative purpose): Annual Lease Rental for Payment Date WPI value@ (illustrati ve value) Formula used for calculation of CAGR of WPI over two years CAGR of WPI over two years Formula used for calculation of escalation of Annual Lease Rental every two years Illustrative value of Annual Lease Rental (INR) 1st year- 2015 Date of Signing of Agreement or earlier 215 - - - 100.00 2016 First Anniversary of Appointed Date 230 - - - 100.00 2017 2nd Anniversary of Appointed Date 240.5 [(240.5/215 )^(1/2)- 1]*100% 5.76% [(1+5.76/100) ^2]* 100 111.86 2018 3rd Anniversary of Appointed Date 260 - - - 111.86 2019 4th Anniversary of Appointed Date 280 [(280/240.5 )^(1/2)- 1]*100% 7.90% [(1+7.90/100) ^2]* 111.86 130.23 2020 5th Anniversary of Appointed Date 300 - - - 130.23 2021 6th Anniversary of Appointed Date 310 [(310/280)^ (1/2)- 1]*100% 5.22% [(1+5.22/100) ^2]* 130.23 144.19 17.2.5 The reference WPI value shall be the value on the website of the Ministry of Commerce, Government of India applicable for the last financial year prior to the date of increase of Annual Lease Rental. For...
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Annual Lease Rental. The Annual Lease Rentals shall be payable as stipulated in the Lease Agreement.
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Annual Lease Rental. 24.5.1 In consideration of the lease of the Project Site and the rights appurtenant thereto in favor of the Concessionaire, the Concessionaire shall, during the Concession Period, in terms of this Agreement and the Project Site Lease Deed, make payments to the Authority by way of annual lease rentals (the “Annual Lease Rentals”) at per annum. (as quoted by the Selected Bidder). 24.5.2 First payment of Annual Lease Rental shall be made on a pro-rata basis (calculated as the number of days between the end of the Construction Period (i.e. which shall be a period of 3 (three) years from the Appointed Date) or COD, whichever is earlier and 31st March of the year or following year, which ever applicable and payment to be made within 15th April of the year concerned. Every subsequent payment of Annual Lease Rental shall be due and payable within 15 (fifteen) days of the closure of the subsequent Accounting Year. The subsequent payments shall be due and payable within 15 (fifteen) days of every subsequent accounting year.
Sample 1
Annual Lease Rental. 1.38.1 The annual consideration in respect of theProject Assetsover and above the Upfront Payment (the “Annual Lease Rental”) is Rs /- (Rupees only)for the first year of the Lease Period. The Annual Lease Rental shall be calculated as 10% of the Upfront Payment. DOT acknowledges the payment of Rs. /- (Rupees only)by the Lessee, towards the Annual Rental for the first year on , 2017 through DD bearing No of Bank . This payment will be in the form of a demand draft in favour of The Director Tourism, Department of Tourism, drawn on a scheduled bank that is not a Gramin Bank and payable at Bhubaneswar. 1.38.2 For the first year, the Annual Lease Rental shall be payable on the date of signing of the Agreement. 1.38.3 The Annual Lease Rental for each subsequent year shall be payable in advance on the anniversary of the Appointed Date. In case the Lessee failed to pay the annual rent within 15 days from the date of anniversary of appointed date, interest @ 18% shall be charged per annum for period of delay apart from the right to terminate the agreement under Clause 1.51 & 1.56 of the agreement. 1.38.4 The Annual Lease Rental shall be escalated every 2 (two) years by the Wholesale Price Index (WPI) figures declared by the Ministry of Commerce, Government of India.The reference WPI value used would be the WPI value for the previous financial year. For example, escalation would be calculated in the following way: (figures used for WPI value, Annual Payment for first year are only for illustrative purpose): Annual Lease Rental for Payment Date WPI value@ (illustrati ve value) Formula used for calculation of CAGR of WPI over two years CAGR of WPI over two years Formula used for calculation of escalation of Annual Lease Rental every two years Illustrative value of Annual Lease Rental (INR) 1st year- 2015 Date of Signing of Agreement or earlier 215 - - - 100.00 2016 First Anniversary of Appointed Date 230 - - - 100.00 2017 2nd Anniversary of Appointed Date 240.5 [(240.5/215 )^(1/2)- 1]*100% 5.76% [(1+5.76/100) ^2]* 100 111.86 2018 3rd Anniversary of Appointed Date 260 - - - 111.86 2019 4th Anniversary of Appointed Date 280 [(280/240.5 )^(1/2)- 1]*100% 7.90% [(1+7.90/100) ^2]* 111.86 130.23 2020 5th Anniversary of Appointed Date 300 - - - 130.23 2021 6th Anniversary of Appointed Date 310 [(310/280)^ (1/2)- 1]*100% 5.22% [(1+5.22/100) ^2]* 130.23 144.19 17.2.5 The reference WPI value shall be the value on the website of the Ministry of Commerce, Government of India appli...
Sample 1
Annual Lease Rental meters: For clarity, the Annual Lease Rental for the Leased Property under this Contract of Lease shall be: The LESSEE shall pay the Annual Lease Rental starting from 2012 until the current year (Years 1 to 5) without need of demand from the LESSOR, within fifteen (15) days from the execution of this Contract of Lease. The LESSEE shall pay the next Annual Lease Rentals without need of demand from LESSOR within fifteen (15) days from the anniversary date of the start of the Lease Period (28th of June), starting 2017 and every year thereafter. Provided, that if the last remaining year of the Lease Period shall comprise of less than twelve months, the LESSEE shall pay only a proportionate amount of the stipulated Annual Lease Rental for that particular year corresponding to the actual number of months for which the Contract of Lease shall remain effective. As shown in the above schedule, the Annual Lease Rental shall increase by two and a half percent (2.5%) (the “2.5% Escalation Rate”) starting on the 16th year of the Lease Period and every year thereafter. The provisions of this Section 3 notwithstanding, beginning on the 16th year of the Lease Period and until the expiry thereof, LESSEE shall pay LESSOR an annual lease payment which shall be the higher either (i) the amount indicated in the above schedule or (ii) the amount equivalent to three percent (3%) of the zonal value designated by the Bureau of Internal Revenue (BIR) for the total area of the land constituting the Leased Property, excluding the value of any improvements thereon. The Lease Rental once it falls due shall be considered public funds.
Sample 1
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Annual Lease Rental. ‌ In consideration of the grant of lease in accordance with the Project Site Lease Deed in accordance with Schedule J, the Concessionaire shall pay to the Authority the sum of Rs. 1 / Xx.xx per annum by way of annual lease rental (the “Annual Lease Rental”). The first Annual Lease Rental payment shall be paid with the execution of this Xxxxx Xxxx and the second Annual Lease Rental payment shall be paid prorata for the period beginning from first anniversary of date of execution of Xxxxx Xxxx until the completion of the succeeding Accounting Year. Thereafter Annual Lease Rental shall be paid on annual basis for every Accounting Year.
Sample 1

Related to Annual Lease Rental

  • Base Rent 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

  • Rent Sublessee shall pay Sublessor as rent for the Premises (“Base Rent”) its pro rata share (based on the ratio of the square footage of the Premises to the square footage of the Master Premises (its “Pro Rata Share”)) of the rent payable under the Master Lease, together with an amount equal to Sublessee’s pro rata share (based on the ratio of square footage of the Premises (excluding the Shared Areas) to the square footage of the Master Premises (excluding the Shared Areas), of the rent payable under the Master Lease with respect to the Shared Areas. Such amounts shall be due and payable within thirty (30) days of delivery by Landlord of an invoice therefor, without deduction or offset and without prior notice or demand, at the address indicated by Sublessor in writing from time to time. Such Base Rent shall increase from time to time based on increases in the base rent under the Master Lease. In addition, Sublessee shall pay, as and when due under the Master Lease, (a) its Pro Rata Share of all operating expenses, taxes, insurance and other costs payable under the Master Lease, but specifically excluding any fees, costs, charges or other consideration paid or payable by Sublessor to Master Lessor in connection with Sublessor’s exercise of any termination right or option that Sublessor may have under the Master Lease to terminate the Master Lease prior to the expiration of the then-scheduled term of the Master Lease (it being understood that Sublessee shall have no obligation to pay any portion of any such fees, costs, charges, penalties or other consideration paid in connection with Sublessor’s exercise of any such early termination right or option, and that Sublessor reserves the right to exercise any such express early termination right or option held by Sublessor under the Master Lease notwithstanding anything to the contrary contained in this Sublease), and (b) all costs directly incurred by or at the request of Sublessee with respect to its use of the Premises. All amounts required to be paid by Sublessee under this Sublease other than Base Rent shall be deemed additional rent.

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